Mass Merchant

One of Minnesota’s highest-volume malls is about to get a $76 million renovation that will give it new retail space and sight lines and – more rare these days – a new department store tenant.   Rosedale Center, a 1.14-million-sq.-ft. property situated between the Twin Cities of Minneapolis and St. Paul, will soon break ground for a two-level Von Maur store and parking deck with 1,100 spaces, according to owner JLL. Macy’s and J.C. Penney already do business there.  

Two major retail organizations delivered some early holiday cheer to retailers.   The National Retail Federation and the International Council of Shopping Centers issued their annual holiday forecasts on Tuesday, and both predicted holiday shoppers will spend more this year than they did last year.   

In the strongest forecast so far this year, holiday spending is expected to reach its highest point since the Great Recession, led by strong digital sales.   That’s according to PwC’s 2016 Holiday Outlook, which forecasts a 10% total rise in holiday spending over last year, and a 25% rise in digital sales.    “The great news for all retailers is consumers are much more optimistic this holiday season,” said Steven Barr, PwC’s U.S. retail & consumer leader. 

Consumers’ lack of enthusiasm around the value of chip card usage could impact the upcoming holiday season. This month marks the year anniversary of the introduction of mandated Europay, MasterCard, Visa (EMV) chip card payments at retail stores across the United States. However, high levels of consumer frustration and confusion remain widespread, according to new research published by Cayan, a payment technology provider.

From increased budgets to a desire for free shipping to gifts for pets, PwC’s “2016 Holiday Outlook” report predicts the following trends will drive the upcoming holiday season:    1. Bigger holiday budgets: Shoppers will likely spend 10% more this holiday season; an average of $1,121 each. And consumers with annual household incomes less than $50,000 will likely increase their percentage spending levels even more than consumers overall.  

Bonobos opened its fifth Manhattan store this week on Madison Avenue, surrounded by neighbors that include Porsche Design, Tourneau, Dino Baldini, and Lladro.   Called the Bonobos Guideshop NYC, the store inhabits a 1,725-sq.-ft. ground floor space with all-glass frontage on the southwest corner of 52nd Street in the shadow of St. Patrick’s Cathedral. The deal was brokered by RKF.   

Don’t believe the rumors. Kmart is not going out of business.   That’s according to Eddie Lampert, the beleaguered  CEO of Kmart parent company Sears Holdings Corp.  

​Bass Pro Shops is entering into a 10-year agreement with Capital One, a move that will make the card provider the exclusive issuing partner of co-branded credit cards to Cabela's customers.